Artists deserve clarity about the economics of music streaming. This site aims to increase transparency by sharing new data on the global streaming economy and breaking down the royalty system, the players, and the process.
So the real question: is this site intended to lead artists to demand more of the share of the revenue generated from their works, setting up the narrative for a $SPOT coin?
"We believe the future is incredibly bright for artists’ careers. At this rate, we think that the music industry will surpass its 1999 peak in 2025 because of streaming royalties.
Peak - 1999 - $25B
Low - 2014 - $14B
Latest 2019 - $20B (Streaming acc $11B)
Combining a resurgence in vinyl collection, growing user loyalty to Spotify (via personal playlists & recommendations) and NFTS this has to be true, which is brilliant for the industry.
The more artists can self release, promote themselves and take a slice of the pie, the better. New tech and social media can certainly support that.
Hopefully a direct payment / tip jar feature in Spotify too....
The creatives deserve it enormously.
Great to see some form of transparency from Spotify and i'm sure we all hope there’s a post pandemic boom in live music on top of it all.
@DanielEk@eldsjal
As a music industry enthusiast & independent researcher I think it's great to see that Spotify responds to the global creators' economy shift and address issues that are important for both sides, supply & demand. Most importantly, Spotify seems to take lead in educating and explaining how things do work by breaking myths and labels the company was mistakenly assigned! @leojbarnett Direct payment/ tip jar could make a big change! Maybe eliminate need for patreon :D
/ Cross-feature integration maybe? Lots of luck @eldsjal!